PORTFOLIO PROJECT Part 7 Essay Example | Topics and Well Written Essays - 1250 words

PORTFOLIO PROJECT Part 7 - Essay Example In stakeholders’ opinion, it is the benefit given to employees in exchange of the effort they have made for the organization. One complete definition for compensation is that it is a method to deal with all kinds of rewards of employees in the work system (Bomkamp, 2013). Compensation management as a HR function is significantly valued in organizations. Managers believe that it is a function that engages employees to their work system. They consider it as a function to ensure employees’ motivation in the work place. From a strategic point of view, compensation management is a planning stage for retaining employees. It is a planning process to organize qualified workers in the work system. It is a system that integrates workers with organizational culture and values. According to the contemporary literature, compensation is of two major types - financial and non-financial compensation. Financial compensation includes direct wages and performance based salaries while non- financial compensation may include job rotation, job expansion, hierarchy promotions and other resourceful benefits such as health insurance, medical facility, house or transport facility. In organizational practice, financial compensations are designed in accordance to market trends, while non-financial compensations are flexible, as they can be changed or amended depending upon the financial position of the organization. Furthermore, the literature asserts that compensation can be for the short term and long term. For example, Google Inc. offers work time entertainment facilities to employees as short term compensation, and the other company - Scientific Games Corporation offers $9.1 million golden parachute to the chairman of the office as long term compensation (Bomkamp, 2013, p. 2). The core objective of any reward or compensation is to retain employees and for that reason it has been noted that organizations actually determine compensations using flexible methods to ensure emp loyee retention. Definitely, if compensations are successful to retain employees, the employee turnover will be lower and as a result the organizational performance will be improved. This is what any organization would like to achieve from its compensation policy that is to increase employee performance. When high levels of employee performances are achieved then the company can expect higher efficiency and performance. The Challenge According to Joe (2011), accountants are in-charge of most of the technical work in an organization system (Martocchio & Joe, 2011). They have to conduct market research, prepare financial reports and bring revenue forecast, which is all a managerial level of task and operation (Martocchio & Joe, 2011). An effective compensation for accountants is one, which can justify with the accountant’s nature of work which involves high responsibility, major skill and effort (Singh, 2007). Definitely, if an accountant gives his full effort, the knowledge an d skill to his organization so the organization should acknowledge it by returning him back in the form of effective compensation. This is the challenge which most of the firms face while designing compensation for accountants, as they miss out the elements of fairness and equity at the time of compensating accountants (Martocchio & Joe, 2011, p. 20). Proposed Procedures for Accountants’ Compensation Management Market Assessment For designing effective

Participation or Non-Participation for a Tennis Professional Essay

Participation or Non-Participation for a Tennis Professional - Essay Example Given the magnitude of the tournament, it would present the best platform to sensitize the World and Americans on my stance and to make them join me in fighting this course. Participation is better given that a large number of people gather to watch this tournament and that the competition attracts people from various countries. Further, several broadcasting channels televise the Indianapolis tennis tournament that will enable my position to reach a large number of people (Durst 1). For a professional tennis player, participation presents the best way of putting forth one's opinion. Just like evidenced in other sports activities, best players choose to participate and put forth their stance concerning an occurrence in the course of their participation. For instance, when a police officer shot a teenager named Garner, and people were of the opinion that the Jury’s decision did not provide justice to the deceased. There were increased protests among the public and LeBron James an NBA star sought to oppose the decision in a game scheduled for Brooklyn. Before the game, LeBron wore a T-shirt with inscriptions showing support for young Garner (Bondy 1). A professional tennis player would pass his stance against the Religious Freedom Restoration Acts via pre-match or post-match interviews. In addition, a professional player can bring forth their position by wearing T-shirts with inscriptions of the stand they take concerning the decision. Finally, given the lar ge social media following that professional sports personality have in these media; the professional tennis player can post his stance on his wall. Despite the lack of participation in the Indianapolis Tennis Championships being impactful, participation and making one’s stance known through various means is the best option. Given the large following, that tennis professionals receive worldwide, failure of involvement would not go well with all the fans. Some fans of the professional tennis player would be so devastated by the failure of the occurrence of the event that they would stop focusing on the issue that led to the decision.  Ã‚